Evercore analyst Jian Li maintains $Etsy Inc (ETSY.US)$ with a buy rating, and adjusts the target price from $80 to $65.
According to TipRanks data, the analyst has a success rate of 50.0% and a total average return of 6.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Etsy Inc (ETSY.US)$'s main analysts recently are as follows:
Etsy has experienced a gross merchandise sales shortfall, although it exceeded expectations in terms of revenue and EBITDA due to improved take rate expansion. The company is undertaking numerous adjustments to enhance its assortment, search functionality, and the overall consumer experience. Despite these efforts, it is anticipated that merchandise sales challenges will continue until there is a stabilization in discretionary demand.
Etsy's recent performance exhibited mixed results, with its gross merchandise sales growth falling short of expectations, balanced by improved take rates and margins. The company continues to grapple with a difficult discretionary consumer goods market, further compounded by its lack of participation in significant discounting events that attract consumers.
The company posted robust revenue and adjusted EBITDA figures, albeit with Gross Merchandise Sales that fell marginally short of expectations. Management pointed out several challenges faced during the quarter, such as Hurricane Helene, significant sports events, elections in the UK and France, and the distraction posed by the U.S. election.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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